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North Carolina

Incentives/Policies for Energy Efficiency

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Town of Carrboro - Worthwhile Investments Save Energy (WISE) Homes and Buildings Program   

Last DSIRE Review: 08/09/2012
Program Overview:
State: North Carolina
Incentive Type: Local Loan Program
Eligible Efficiency Technologies: Water Heaters, Lighting, Lighting Controls/Sensors, Heat pumps, Central Air conditioners, Programmable Thermostats, Building Insulation, Motors, Motor VFDs, Custom/Others pending approval, Led Exit Signs, Room Air Conditioners, Vending Machine Controls, Commercial Refrigeration Equipment, Food Service Equipment
Eligible Renewable/Other Technologies: Solar Water Heat, Photovoltaics
Applicable Sectors: Commercial, Nonprofit
Amount:$1,500 loan minimum
Terms:3% interest for up to 10 years
Funding Source:American Recovery and Reinvestment Act (ARRA) Better Buildings Program (through Southeast Energy Efficiency Alliance (SEEA)
Program Budget:$55,000
Web Site: http://www.ci.carrboro.nc.us/ecd/EERLF.htm
Summary:

The Town of Carrboro is providing loans to Carrboro businesses and non-profits with fewer than 50 employees to increase their energy efficiency. The current interest rate is 3% and the maximum loan term is 10 years. Loan applicants must give the town their previous 12 utility bills, and must agree to continue submitting their utility bills for 3 years after the work is complete so the town can measure the performance of the retrofits and the success of their program.

A wide variety of efficiency improvements are eligible for financing through this program. Participants are required to have an energy evaluation conducted by a program qualified assessor or contractor prior to submitting their loan application. The energy evaluation will identify the highest priority improvements, and the cost of the evaluation can be included in the loan amount. Solar hot water and photovoltaic (PV) installations are eligible for financing only if they are combined with energy efficiency improvements that are anticipated to yield 15% energy savings.

See website above for more information.

This Program is part of the U.S. Department of Energy's (DOE) Better Buildings Program.  The DOE has awarded over $500 million in federal funds to more than 40 states, local governments, and organizations to administer local programs targeting a variety of building types. Combined, these local programs are expected to improve the efficiency of more than 170,000 buildings through 2013 and save up to $65 million in energy costs annually.


 
Contact:
  James Harris
Town of Carrboro
Economic and Community Development
Town Hall
301 W. Main Street
Carrboro, NC 27510
Phone: (919) 918-7319
Phone 2: (919) 918-7319
E-Mail: jharris@townofcarrboro.org
Web Site: http://www.ci.carrboro.nc.us/ecd/
 
  Mark Kuykendall
Clean Energy Solutions
Phone: (919) 918-7334
E-Mail: mkuykendall@cleanenergysol.com
Web Site: http://cleanenergysol.com/
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.